Helix to raise $16.9 million through private placement

Helix Biopharma Corp, Aurora ON, has launched a private placement that is expected to yield $16.9 million upon closing later this month. The funds will be used primarily to fund R&D for products aimed at the prevention and treatment of cancer. The private placement coincides with the firm's latest quarterly financial statements and follows major changes within the executive. The joint role of CEO and president, held by Dr Donald Segal, will be separated. Segal remains CEO and Dr John Docherty (previously VP corporate development) becomes president. Jerome McElroy has resigned as chairman and director of the company. Helix's lead compound is Topical Interferon Alpha 2b....